Bulgarian house price falls continue, but at a slower pace
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After three years of house price falls, the Bulgarian housing market remains in the doldrums.
During the year to end-Q1 2012, the average price of existing flats in Bulgaria dropped by 4.3% to BGN884 (€452) per square metre (sq. m.), after price falls of 6.4%, 6.1% and 6.2% over the year to the previous three quarters, according to the National Statistical Institute (NSI). Property prices in Bulgaria are 38% lower than the Q3 2008 peak of BGN1,418 (€725) per sq. m..
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